ZARP
ZARP is a stablecoin pegged 1:1 to the South African rand. ZARP Stablecoin (Pty) Ltd issues it with rand reserves held at Old Mutual Wealth and verified by independent auditors. The token runs on Ethereum, Solana, Base and Polygon. It is one of the earliest rand stablecoins and a founding member of the Stablecoin Standard industry body.
The most established South African rand stablecoin. Audited 1:1 rand backing with treasury at Old Mutual Wealth, about five years live on four chains. Established but very small, licence still pending, and fully fiat-dependent.
M69 Score
Scored against the Money2069 Manifesto — see methodology. Higher = more aligned.
Detailed Rating Breakdown
Issuance Model3x3.0
Single permissioned issuer minting 1:1 against rand reserves (IM-01 3); no debt mechanism (IM-02 4); redemption burns supply (IM-05 4); backing is fiat deposits only, no real-economy signal (IM-03 1).
Spending Power Stability2x3.0
Tracks its rand peg (0.9895 ZAR on CoinGecko, 2026-08-25) with independent audit verification and treasury at Old Mutual Wealth; the anchor is a single emerging-market fiat with moderate inflation, and long-term purchasing power is not addressed.
Fiat Independence & Interoperability2x1.0
Fully fiat: ZAR unit of account, 100% rand reserves in the South African banking system, no interop standard of its own.
Traction2x2.0
About R74M (~$4.6M) circulating on four chains after roughly five years live, 349,000+ lifetime transactions, listed on South African exchanges; the most established rand stablecoin but tiny in absolute terms, and its CASP licence is still pending.
Sovereignty2.0
Centralized issuer operating as a representative of a licensed South African financial services provider; KYC-gated mint/redeem; open on-chain transfer.
Governance2.0
Corporate issuer; no community governance; reserve attestations published.
Resilience3.0
Roughly five years live through rand volatility without a peg failure; single company, single banking system, treasury concentrated at one asset manager.
Inclusivity2.0
Open to hold and transfer on-chain; mint and redeem require KYC; serves a market where dollar stablecoins dominate, giving locals a home-currency option.